If you hold a HomeBuy loan with us, you will have received a letter at the beginning of June 2025 with some information about annual statements.
You don't need to do anything, but if you have mislaid the letter, the FAQs included in that letter are below.
If you have any further questions or you need some more information, please contact us on 0300 304 5000 or email sales@estuary.co.uk
Your HomeBuy Loan with Estuary Housing Association Limited (Estuary or us) is regulated by the Financial Conduct Authority as a regulated consumer credit agreement. Under Consumer Credit law we are required to provide you with annual statements containing certain information and forms of wording. It has come to our attention that these statements have not been issued to you in this manner.
Therefore, to correct this omission, we have sent you retrospective annual statements containing the required information to cover the period from 1 October 2008 (which is when the associated rules were effective). The statements show the state of your HomeBuy Loan account for each year where a statement was required.
We offered you a HomeBuy loan to purchase your property. The amount loaned was a specified percentage of the value of your property at that time. No interest is charged on the loan during the term of the agreement, however the amount that you repay is subject to change according to the value of your property at the point of sale.
For example, if you purchased a property for £100,000 and we loaned £20,000 to you, and if you then agree to sell the property for £200,000, the amount you repay to us would be £40,000 as the loan is based on the percentage of the purchase price.
The loan is repayable on either disposal of the property (save for certain exempt disposals such as the property transferring to a close relative upon your death) or upon breach of the Agreement and failure to remedy such breach.
As above, the amount you are required to repay when the loan comes to an end is linked to the value of your home at that time.
In addition, you will have to pay our costs in discharging the security.
You do not need to take any action. These statements are to provide you with required information as per Consumer Credit law and to ensure that we are acting in accordance with regulatory requirements.
If there's anything you're not sure about, contact us on 0300 304 5000 or email sales@estuary.co.uk
You can request a copy of your agreement from Estuary for a small fee. Alternatively, you can check your property under the title number on the Land Registry and note the restriction in favour of Estuary Housing Association on the Charges register.